Milestone Payment definition
Examples of Milestone Payment in a sentence
Each Monospecific Milestone Payment shall be paid no more than once, and ▇▇▇▇’s total Monospecific Milestone Payments under this Section 4.1(a) shall not exceed Twenty-Two Million Dollars ($22,000,000).
Following receipt of such notice, Paragon shall invoice Jade for the corresponding Multispecific Milestone Payment, which invoice shall specify whether Paragon or its designee(s) should receive such payment and the bank account information into which such payment should be paid.
Jade shall make such Monospecific Milestone Payment to Paragon or Paragon’s designee(s) within [***] days after ▇▇▇▇’s receipt of Paragon’s invoice.
Each Multispecific Milestone Payment shall be paid no more than once with respect to a Jade Multispecific Product, and ▇▇▇▇’s total Milestone Payments under this Section 4.1(b) with respect to each Jade Multispecific Product shall not exceed Twenty-Four Million Dollars ($24,000,000).
For avoidance of doubt, upon achievement of any Monospecific Milestone, all prior unachieved Monospecific Milestones shall be deemed thereby achieved and, if the Monospecific Milestone Payment for any such prior Monospecific Milestone has not previously been paid under this Agreement or pursuant to Section 5.3 of the Option Agreement, it shall thereupon also be paid at the same time that the Monospecific Milestone Payment for such subsequent achieved Monospecific Milestone is paid.